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Sunday, June 03, 2012

The Internet - Exciting Times Ahead

1:14 PM Posted by Deepak Nayal No comments
Last week KPCB partner Mary Meeker released her Internet Trends 2012 report, and just like her other awesome reports this one is also full of data and insights. The report has highlighted some interesting trends/points which were not covered in the earlier version of the report, such as the monetization dilemma of the mobile platform, re-imagination of nearly all aspects of life and some light on the debate of whether there is a tech bubble or not. This report confirms [with data] what a lot of us are already aware of - we are at the cusp of a tectonic shift in the field of technology and how it affects our lives. Instead of repeating what is in the report, I strongly suggest that all technology enthusiasts should go through it.
KPCB Internet Trends 2012

Can we please put the Tech Bubble debate to rest now? 
One of my favorite parts of this report is the information provided on the recent tech IPOs. The Facebook IPO has shown us that the public markets have not lost their sanity yet, and the hype around tech stocks has largely been restricted to private investors. The fact that pretty much all the star IPOs of recent times, except LinkedIn, have lost their value from opening price, though a bad news for the investors, should help in putting to rest the debate of whether we are witnessing another tech bubble. 
Recent Tech IPOs (source - kpcb.com)

White House going big on technology 
The Layers Of Digital Services (source - whitehouse.gov)
Recently, another event happened that gave a preview of how technology and internet are going to change are lives. On 23rd May 2012, White House issued a press release according to which all federal agencies are required to open up their data so that it is readable by humans as well as machines (through APIs). The US president has issued a few deadlines for this initiative as well, wherein within 90 days the agencies are required to create a page on their website reporting progress in meeting the requirements, and within 12 months they need to implement the requirements of this Digital Strategy initiative. The US government has issued a report with the details of the initiative and the conceptual model of the initiative. This Digital Strategy initiative, if successfully implemented, can enable third-party developers to implement applications that can serve the people of US better and provide a good push into promoting entrepreneurship.   

"This is Day 1 for the Internet...
Reports and initiatives, such as the ones mentioned above, remind me of two extremely powerful and relevant quotes from two of the most influential figures in the world. 

Jeff Bezos, founder of Amazon.com, once famously stated - "This is Day 1 for the Internet. We still have so much to learn". Even today Jeff mentions current time as Day 1 for the internet in his letter to Amazon shareholders, and talks of internet as a largely untapped resource. 

John Doerr, legendary partner of the venture capitalist firm KPCB, once famously said "The Internet is the greatest legal creation of wealth in history…". KPCB launched the iFund (in 2008) and sFund (in 2010) to finance technology initiatives in the field of mobile and social applications respectively. 

All this confirms my belief that while we have achieved a lot in the field of internet, we still have merely scratched the surface of the immense possibilities out there. The incentives for exploring these possibilities are both social and financial. There is still a lot of re-imagination (and implementation) waiting to happen. There are still a lot of exciting times about to come.

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